Vienna Insurance Group (VIG), the biggest group on the domesticinsurance market, ended the first quarter with total underwrittenpremiums worth 147.4m euros, down 12% from a year ago, according tothe quarterly report published yesterday. VIG owns Omniasig,Asirom, BCR Asigurari and BCR Asigurari de Viata. On the generalinsurance segment, the Austrians' turnover posted a strongcontraction, of 20%, to 121.4m euros. According to the report, thedecline was triggered by portfolio restructuring. Instead, on thelife insurance market VIG reported a 59% increase, to 26m euros.The increase came as a result of the sale of life insurancepolicies through the biggest bank on the domestic market, BCR.VIG's Romanian pre-tax profit climbed by 18% to 7.4m euros. At theend of last year, the Austrians sold one of the companies in theirportfolio, Omniasig Life, to French group AXA. At present, VIG ownsonly large or medium-sized insurers.
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